Posted byon April 30, 2014
Previous article: « 16 More Free Ways to Deal with Stress
Next article: Citi Dividend $100 Sign Up Bonus »
I like to take advantage of buying gift cards for cash back when it’s convenient, but I rarely run out to a store just to purchase gift cards. However, when a store makes them available online, I like to seize the opportunity to make money!
Chasing the Points discovered that Staples recently started selling their $200 Visa gift cards online! Here’s how I’m putting together my orders to buy them and earn 8.5% cash back!
Here’s the card you are looking for:
Credit Cards. I figured many of you have the American Express Simply Cash card from the bonus they offered this spring. If you don’t have this card, you can also use a Chase Ink card which also pays 5% at office supply stores.
Visa cards. If you use an Ink card with a Visa logo, you can also add an additional 1% cash back from the Visa Savings Edge program.
Amazon gift cards. If you redeem your Swagbucks for Amazon gift cards, the cash back rate is 6.6%, not 6%.
Swagbucks Bonus. If you don’t have a Swagbucks account, you can use this SwagBucks Cashback Sign Up Bonus which apparently still works.
Here’s how the math broke down for me. I purchased 10 x $200 gift cards worth $2000 in an order:
Total Cash Back on Gift Cards $170.56 / 2,000 = 8.5%
I just finished paying our taxes with gift cards, so this was the perfect time to replenish my stack of gift cards. At 8.5% cash back, it’s currently a better deal than any of the current quarterly rotating cash rewards.
While we can probably also add these gift cards to our Serve or Bluebird accounts, I’m also looking forward to testing out a new bill payment service: Evolve. Let me know if you have used Evolve for cashing out gift cards, I’d love to hear how well it worked! Stay tuned for more on that experiment! Update: How to Cash Out Gift Cards Online Using Evolve Money to Pay Your Bills!